Source: Reverse Charge Mechanism – Purchase from Non-Registered Supplier Such other particulars as may be prescribed.Inward and outward supply of goods or services or both.Section 35 of CGST Act 2017 – Accounts and RecordsĪccording to Point (1) of Section 35 CGSR Act 2017:Įvery registered person shall keep and maintain, at his principal place of business, as mentioned in the certificate of registration, a true and correct account of: Section 35 of the Central Goods and Services Tax (CGST) Act, 2017 provides guidelines about Maintaining Accounts and Other Records. GST Regulations for Managing Inventory/Stock under GST ACT Which Profit and Loss Statement items can attract GST under Reverse Charge Mechanism?.On which expenses Reverse Charge Mechanism not applicable?.GST Inventory Outward Register (Sales Register).GST Inventory Inward Register (Purchase Register).Components of GST Compliant Inventory Template.How to use GST Compliant Inventory Template?.Download GST Compliant Inventory Template (Excel, OpenOffice Calc & Google Sheet).Input Tax Credit on Reverse Charge Mechanism.Reverse Charge Mechanism – Purchase from Non-Registered Supplier.Section 35 of CGST Act 2017 – Accounts and Records.GST Regulations for Managing Inventory/Stock under GST ACT.
